Credit Card Center Advertiser Disclosure†
08-16-2013 10:09 AM
This is the first time I have held a balance on a GE card and I almost fell over when I found out the APR was 26%+ on ALL their cards. I was told by the CSR that they had raised it as of last year. I asked the CSR if they worried this might make most folks shy away from using any GE backed cards and he told me he warns everyone of the APR before they apply..JEZZ I need to pay attention! No more holding a balance even if it is for a short time..
EXP FICO 8/12/13 717 TU FICO 8/12/13 707
08-16-2013 10:16 AM
Store cards really are meant to be used as charge cards rather than credit cards. Think of it like an Amex charge card that gives you the option of caryring a balance for a short period.
I'm not proud that I carried a balance on my GE Walmart card for a few years, although it did help me get credit line increases.
08-16-2013 10:49 AM
To be fair It's my fault. I got use to my APR being so low on my major credit cards I forgot GE cards are store cards subject to higher APR.. I only have 2 GE cards and I like both but next time I'll keep in mind the 26%+ thingy when I need to hold a balance a few months..Live and learn!!
08-16-2013 10:59 AM
GERCB = 20+% on all line of credit normally.
There are some co-branded options they have that have Tiers though that differ depending on your profile.
SAM'S CLUB® DISCOVER®
|Annual Percentage Rate (APR) for Purchases||14.90% for Account Type 1 or|
22.90% for Account Type 2
08-16-2013 11:08 AM
Most GE cards have special financing so you don't need to worry about the APR anyway. I currently have a balance with Living Spaces 2500 balance with 18 month financing. No idea what my APR is but I've never paid on it and I've had 3 previously paid off balances with this card. What can I say...I love Living Spaces!
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.